For the fourth time in the past five years, Banco Santander Puerto Rico has landed a spot on the list of “Best Emerging Market Banks in Latin America,” a ranking published by the editors of Global Finance magazine that includes 23 countries in Central and South America and the Caribbean.
This is the 18th year that the trade publication has selected top banking performers in emerging markets, including in the criteria for choosing the winners the bank’s growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products.
“We remain in an unusually challenging environment for banks and their customers,” said Joseph Giarraputo, publisher of Global Finance. “More than ever, customers are demanding superior competence from their banking partners. These are the banks best providing that competence.”
The magazine’s editors made their choices after garnering input from industry analysts, corporate executives and banking consultants. The survey will be published in the May issue.
Spanish-owned Banco Santander Puerto Rico is one of at least eight banks that serve the Puerto Rico market and that has been able to ride out the banking debacle of the past five years with apparent success. Santander subsidiaries in Argentina, Chile and Uruguay walked away with the same distinction, the survey showed.
Banco Santander Puerto Rico beat out other island banks for the ranking that Global Finance magazine also granted consecutively to Banco Popular de Puerto Rico for several years.
Meanwhile, BBVA — another player on the island — garnered the title in Paraguay, Peru and Venezula. Banco Popular Dominicano was Global Finance’s top choice in the Dominican Republic, while Scotiabank fared well in a handful of other nations, namely Barbados, Jamaica, Trinidad & Tobago, Turks & Caicos, and Costa Rica.
Parallel with the Latin American results, Global Finance released its rankings for emerging banks in Africa, Asia, Central and Eastern Europe, and the Middle East.
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Business reporter with 27 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.
BAD EXPERIENCE…HAD 15 YR.40K MORTGAGE LOAN SINCE 2005, HAVE A BALANCE OF 14K..SUBMITTED A CHANGE OF ADDRESS AND A REQUEST TO PAY OFF BAL.,IN EARLY APRIL 2012..CALLED BANK AND THEY HAD PROCESSED CHANGE OF ADDRESS AND PAYOFF WAS GOING TO BE SENT OUT..ON 5/17/12 CALLED BANK AND WAS TOLD THEY HAVE NOT PROCESSED PAY OFF AND IT WOULD TAKE 5/7 DAYS TO REACH ME(SAME STORY OTHER PERSON TOLD ME)..I GUESS THEY WERE JUST BUYING TIME SO THAT MY PAYOFF WOULD INCLUDE ONE MONTH ADDITIONAL INTEREST AND THEREFORE MY PAYOFF WOULD BE LARGER…I GUESS IF I HAD FAILED THEM, THEY WOULD BE THREATENING ME WITH LEGAL LETTERS AND NEGATIVE INFO., ON MY CREDIT REPORT..THE BIG FISH ALWAYS WANTING TO EAT THE LITTLE FISH OR THE 1% TAKING ADVANTAGE OF THE 99%…
Banco Santander of puerto rico has a horribly poor customer service. I dont know how they do business. they follow no guidelines, you call them you cant reach them, you leave a message and they dont return your call. I paid for a real estate appraisal and land survey on a property purchase and its been 50 days and I have yet to receive either report. After all this time, then they tell me that the property doesnt qualify for a mortgage. outrageous! Needless to say i will not be doing business with them ever again and i will be suing santander.
“As part of our commitment, we’ll be initiating a series of community dialogues with the residents of the island municipalities of Vieques and Culebra, as well as with their mayors and the top municipal executives of Ceiba, Cataño and San Juan.”